The £70m plans to help revive Altrincham by developer Nikal have been approved by Trafford Council.
The Altair mixed-use scheme is located on a 4.5 acre site near the town's station in between Tesco and Altrincham Leisure Centre, and will include a new leisure centre; a range of leisure-based retail outlets, restaurants, coffee shops and cafes; a tenpin bowling alley; 150 new apartments and townhouses, as well as a high quality office space and a car park.
Nick Payne, managing director of Nikal, said: "It's a promising time for Altrincham; the refurbishment of the interchange is underway, there are new plans to revitalise the marketplace and now Altair.
"All these schemes will help rejuvenate the town and bring people and trade back into the area, as well as creating new jobs. In particular, Altair will focus on enhancing Altrincham's hospitality offering, creating a vibrant leisure area, linking sport with eateries."
The development has been designed to complement the new £19m transport interchange scheme on which work which is already underway in the historic market town.